France’s Vivendi will write down the value of its 20% stake in NBC Universal. A spokesperson said the mark-down will be less than $3 billion.
In November, a source close to the company told the FT Vivendi’s stake was worth $8 billion, but a banker told the paper: “You could barely get to $6 billion.”
Those figures value NBCU, which is also partly owned by GE, between $30 billion and $40 billion.
Last week, Time Warner took a $25 billion writedown, pinning much of the blame on poor revenues from its AOL.com, which one analyst suggest may have seen an 18% advertising revenue decline between 2007 and 2008.